Most Popular
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Young Korean doctors seek plan B: cosmetic dermatology or overseas
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South Korea open to Indonesian proposal to cut KF-21 payments
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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Coupang earnings hit hard by losses from ailing Farfetch
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Korea forecast to overtake Taiwan in chip production by 2032: report
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[K-pop’s dilemma] Time, profit pressures work against originality
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Why femicide and dating violence are growing issues in S. Korea
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EV sales almost double this year in Korea
Over 71,000 units of electric vehicles have been sold in South Korea so far this year, nearly doubling the previous year’s record, a market data showed. According to Korea Automotive Technology Institute, the accumulated domestic sales of EVs up to the end of September came in at 71,006 units, compared to the 36,268 units sold during the corresponding period last year. The domestic sales volume places South Korea as No. 7 globally, Katech said. The world’s No. 1 market, up to
Nov. 15, 2021
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S. Korea to offer $100m in loans for Bangladesh's economic recovery
South Korea said Monday it plans to provide $100 million in financing for a joint project with multilateral lenders to help Bangladesh recover from the fallout of the pandemic. South Korea's Economic Development Cooperation Fund (EDCF) will offer its low-interest rate loans for the $700 million joint project to support Bangladesh's economy, the finance ministry said. The project will also be supported by the Asian Development Bank with $250 million, the Asian Infrastructure Investment Bank (AI
Nov. 15, 2021
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Shinhan Investment partners UK advisory firm to support bio firms’ overseas entry
Shinhan Investment said Monday it has signed a memorandum of understanding with PharmaVentures, a UK-based leading advisory firm providing whose main clients are health care life science companies, to diverse its investment banking services. Under the partnership agreement, the two companies will boost cooperation in supporting South Korean biotech and pharmaceutical companies to advance to the global stage, while arranging international firms’ investments in the domestic health car
Nov. 15, 2021
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S. Korea's 2021 rice output rises for first time in 6 years
South Korea's rice output rose for the first time in six years due mainly to favorable weather conditions and an increase in the cultivation area, data showed Monday. The country's rice production reached 3.88 million tons in 2021, up 10.7 percent from a record low of 3.51 million tons the previous year, according to the data compiled by Statistics Korea. It marked the first rebound since 2015 when rice output rose 2 percent on-year to 4.33 million tons. The figure declined for the fifth strai
Nov. 15, 2021
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S. Korea customs seizes 4 tons of smuggled urea solution
The South Korean customs agency said Monday it has confiscated some 4 tons of smuggled urea solution and is planning to distribute them to the market. The Korea Customs Service (KCS) said it had caught a group of local importers Friday for attempting to bring in 416 10-kilogram containers of urea solution hidden in lawfully imported goods from China through the western port of Incheon. The service said it was investigating those smugglers of urea solution, a key fluid used in diesel vehicles t
Nov. 15, 2021
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Kim Jong-kook truly ‘unnatural’? What does science say?
Singer and entertainer Kim Jong-kook has enjoyed over two decades of success in TV and music. But the 45-year-old recently made headlines for something other than his voice: his workout routine. Controversy broke out one faithful Halloween to spook fans of the beloved TV personality, when a fitness YouTuber named Greg Doucette called him out for likely not being “natural” when working out to build his body. “Is he natural? Of course not!” Doucette said in his video. He
Nov. 15, 2021
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Seoul stocks open higher on Wall Street gains
South Korean stocks opened higher Monday, taking a cue from the Wall Street gains. The benchmark Korea Composite Stock Price Index (Kospi) rose 16.43 points, or 0.55 percent, to 2,985.23 points in the first 15 minutes of trading. The tech-heavy Nasdaq composite rose 1 percent, and the Dow Jones Industrial Average added 0.5 percent Friday. Investors are waiting for the release of China's economic data and the virtual summit of the leaders of the US and China set for this week. China's October
Nov. 15, 2021
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S. Korea's EV sales nearly double this year, 7th-largest worldwide
Sales of electric vehicles (EVs) in South Korea almost doubled in the first three quarters of this year from a year earlier, ranking seventh in the world, data showed Monday. A total of 71,006 EVs were sold in Asia's fourth-largest economy in the January-September period, up 96 percent from a year earlier, according to the data from the Korea Automotive Technology Institute. The figure was the seventh-largest in the world. China sold the largest number of EVs with 1.76 million units in the nin
Nov. 15, 2021
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S. Korea's household debt-GDP ratio highest worldwide: report
South Korea has the highest ratio of household debt to gross domestic product (GDP) among major economies in the world, a report showed Monday, indicating it could crimp consumption and weigh on the economy down the road. The country's household debt stood at 104.2 percent of its GDP as of end-June this year, the highest among 37 economies, according to the report by the Institute of International Finance. Hong Kong came next with 92 percent, followed by Britain with 89.4 percent, the United S
Nov. 15, 2021
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Hyundai Futurenet co-hosts metaverse conference ‘Coming-M 2021’ with The Korea Herald
The “Coming-M 2021” metaverse conference kicked off Monday, with representatives from around 50 companies from 11 different countries taking part. Hyundai Futurenet announced Friday that it was co-hosting the interactive metaverse conference with The Korea Herald to “make an arena where global corporations, governments, and individuals preparing for the post-pandemic era can share ideas and work together.” The conference will be held for five days from Monday to Fr
Nov. 15, 2021
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AmCham, US senator discuss greater opportunities for businesses in US, Korea
Members of the American Chamber of Commerce in Korea and Georgia Sen. Jon Ossoff discussed measures to increase cooperation between the United States and South Korea in various industries that seek innovation, AmCham said Friday. AmCham’s delegation met with the American senator on Thursday during his weeklong trip to Seoul and conveyed the organization’s mission to promote the growth of US businesses in Korea as well as investment in the US by Korean companies, AmCham said. The
Nov. 15, 2021
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Hyundai Mobis develops driving assistance system for tight spaces
Hyundai Mobis, Hyundai Motor’s future mobility software and component unit, announced Sunday that the company has developed a new driver assistance system, specifically designed to help drivers navigate narrow streets and get in and out of small parking spaces. The company said the Mobis Parking System, the first of its kind in the world, is specialized for countries like South Korea and European countries, which have a lot of urban areas with narrow streets. Hyundai Mobis expects its
Nov. 14, 2021
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Corporate sector secures 64 million liters of urea solution amid supply crunch
South Korean firms have set out to secure urea or urea solution using their global networks with foreign partners in an effort to help alleviate the domestic shortage of an additive critical for diesel cars. According to figures gathered by The Korea Herald, some 64 million liters of urea solution, or diesel exhaust liquid, has been sourced by the corporate sector. The supply accounts for more than two-thirds of some 82 million liters of urea solution the government said woul
Nov. 14, 2021
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[Weekender] Who needs staff, when there are robots and tech-savvy customers?
At this year’s annual Seoul International Cafe Show which took place earlier this month, automation and smart devices such as drip coffee-making robots enjoyed the spotlight. “From smart coffee roasters to drip coffee-making robots, there were various opportunities to get a taste of the ‘smart cafe’ experience,” one official at the event said. These are the latest sign of automation and a demographic shift in South Korea where cashier-free stores have increasingly
Nov. 14, 2021
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US Trade Representative to visit S.Korea next week
US Trade Representative Katherine Chi Tai will visit Seoul on Thursday, according to government officials on Sunday. It will mark the first time in 10 years for the country’s chief trade negotiator to visit South Korea since Free Trade Agreement talks were held in 2011. It is expected that Tai will discuss a number of economic and trade issues with South Korean counterparts including the semiconductor supply chain and a digital trade agreement. Other topics include incentives for South
Nov. 14, 2021
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Number of Koreans with W1b in assets climbs 10%
Amid liquidity-driven booms in the real estate and stock markets amid the COVID-19 pandemic, the number of people with assets of more than 1 billion won ($847,000) increased by over 10 percent last year from a year earlier, a report showed Sunday. The number of Koreans with financial assets worth over 1 billion won stood at 390,000 last year, taking up 0.76 percent of the total population, according to the Korea Wealth Report 2021 released by KB Financial Group Research Institute. The
Nov. 14, 2021
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[Herald Interview] K-pop rises as retail investment option
Institutional and corporate investments have supported South Korean cultural contents such as the Oscar-winning movie “Parasite” and megahit Netflix series “Squid Game” on their way to global fame. And their success means a large return in profits from content, often considered as risky investment. A local online platform believes that market access to Korean content ready for production could open to a wider public as retail investors around the world are paying keen int
Nov. 14, 2021
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Six Korean companies added to Dow Jones Sustainability World Index
Six Korean companies have been added to the Dow Jones Sustainability World Index (DJSI) said a public institution under the Ministry of Industry, Sunday. The six companies are Samsung Biologics, Kakao, SK Telecom, Hyundai Motors, logistics company Hyundai Glovis and car parts maker Hyundai Mobis, the Korea Productivity Center said. The Dow Jones Sustainability World Index is part of a larger family of Dow Jones Sustainability Indices (DJSI) launched in 1999 as the first global sustainabilit
Nov. 14, 2021
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Hyundai Motor chief Chung Euisun reappointed as president of World Archery Asia
Hyundai Motor Group Chairman Chung Euisun was approved as head of World Archery Asia, the biggest group promoting archery in Asia region, for the fifth time, the carmaker announced Sunday. Chung was reappointed as the institution’s president at the group’s general meeting held in Dhaka, Bangladesh, Friday. Of the 28 member countries that attended the event, 26 voted in favor of Chung leading the association for the next four years, the group said. Following the appointment, Ch
Nov. 14, 2021
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Korea needs to invest more to meet wind power target: EY
South Korea is in need of more aggressive investment in renewable energy sector in order to achieve its offshore wind capacity goal by 2030 and address the country’s geographical weaknesses in wind energy, a report showed Sunday. Korea was ranked 21st in terms of attractiveness of renewable energy investment and deployment opportunities, in a report that announces the top 40 countries in the assessment, according to London-based consulting firm Ernst & Young. Korea has slid down the
Nov. 14, 2021